- Consolidated revenues amounted to 15.347 mn EUR
- Revenue growth of 1.714 mn EUR (without ALBIS Technologies AG)
- Increase in profits within the business units SYSTEMS und MANUFACTURING
UET United Electronic Technology AG (ISIN: DE000A0LBKW6), Eschborn, releases selected financial figures for the operating business units SYSTEMS, MANUFACTURING and SERVICE for the first quarter of 2015, from January 1st to March 31st 2015.
In the period from January to March of the fiscal year 2015, the operating companies and business units in the core business of the UET Group generated consolidated revenues of 15.347 mn EUR. With regard to the companies belonging to the UET Group in the previous year (without ALBIS Technologies AG), a revenue increase of 1.714 mn EUR was achieved compared to the same period of the previous year.
The business units SYSTEMS and MANUFACTURING, referring to the companies belonging to the UET Group during the same quarter of the previous year, were able to improve and refine their profits. Excluding consolidation effects, the financial figures are presented as follows:
In the business unit SYSTEMS, ELCON Systemtechnik increased its revenues from 7.948 mn EUR to 9.919 mn EUR and, therefore, by 25%. Despite again increased expenses in the field of research and development, the EBITDA could be improved by 0.620 mn EUR to +1.051 mn EUR and the EBIT could be improved to +0.569 mn EUR. Also in the business unit SYSTEMS, ALBIS Technologies AG, which was acquired at the beginning of the year, generated quarterly revenues of 5.879 mn EUR. EBITDA as well as EBIT were negative and amount to -1.163 mn EUR and -1.198 mn EUR respectively in the first three months of the fiscal year. With regard to the time of acquisition, ALBIS Technologies is included in the consolidation of the UET Group as of March 1st 2015, which amounted to a revenue share of 2.053 mn EUR. EBITDA and EBIT for March amounted to -0.444 mn EUR and -0.456 mn EUR respectively.
The development of ALBIS’ earnings is in line with expectations and already considered with respect to terms of pricing as well as structure. Aiming at increasing growth and revenue, the company is currently being integrated into the business unit SYSTEMS.
In the business unit MANUFACTURING, LETRON electronic experienced a decrease in revenues of 27% to 2.105 mn EUR for the first quarter of 2015. With +0.075 mn EUR, the EBITDA was positive but below the previous year’s figure by 0.014 mn EUR. With +0.074 mn EUR, the EBIT was also positive but slightly decreased by 0.013 mn EUR. NEWTAL Elektronik & Systeme generated revenues of 2.796 mn EUR and was, therefore, almost at the level of the previous year. Despite almost unchanged revenues, the EBITDA was improved by 0.023 mn EUR to +0.148 mn EUR. The EBIT was increased by 0.025 mn EUR and is now at +0.126 mn EUR. The business unit MANUFACTURING thereby confirmed the positive operative results of the previous quarters.
In the business unit SERVICE, SUCONI Service reported revenues of 0.398 mn EUR for the first quarter, which represented a decrease of 21% compared to the same period of the previous year. Both EBITDA and EBIT were negative and amounted to -0.083 mn EUR and thus are below the previous year’s level.
For the second quarter, we expect an overall decrease in profits. Investments on product and market development have been increased and ALBIS will still contribute a negative profit share.
The reported financial figures do not include consolidation effects of existing non operating UET Holding companies. Extended full consolidated financials will be reported with in the half-year report 2015.
UET United Electronic Technology AG
Frankfurter Straße 80-82
Tel: + 49 (0) 6196 777755-0